The Central Bank of Nigeria (CBN), on Tuesday, July 17, 2018 injected the sum of $210 million into the inter-bank foreign exchange (forex) market.
A breakdown showed that while $100m was offered to authorized dealers in the wholesale segment of the market, Small and Medium Enterprises (SMEs) got $55m, same as invisibles like tuition fees, medical payments and Basic Travel allowance (BTA).
A statement by Isaac Okorafor, Acting Director of Corporate Communications Department at the CBN, who confirmed the figures, stressed the apex bank’s resolve to continue intervening in the interbank foreign exchange market.
This, he assured, is in line with its pledge to sustain liquidity in the market and maintain stability.
Okorafor maintained that the continued forex intervention is to ensure that the CBN meets genuine customers’ requests across the various segments of the market.
Tuesday’s intervention followed a similar one on Tuesday, July 10, 2018, to cater for requests in the wholesale segment of the market.
Meanwhile, the naira continued to exchange at an average of N360/$1 in the Bureau De Change (BDC) segment of the market on Tuesday, July 17, 2018.
https://investdata.com.ng/2018/07/cbn-injects-fresh-210m-in-sustained-fx-intervention/#more
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